Green hydrogen final investment decision (FID) momentum is accelerating, setting up 2025 as a potential turning point, ITM Power CEO Dennis Schulz told investors.
Having logged revenues of £15.5m ($19.3m) in H1 FY25, up 183% year-on-year, and reduced its EBITDA 7% to -£16.8m (-$20.9m), the UK electrolyser maker believes it is in “pole position” to capture demand thanks to its operational changes and continued cost reductions.
With a £135.3m ($168.4m) order backlog – up from £43.7m ($54.4m) in 2022 – and a “very healthy sales pipeline,” Schulz said the company had “forecast” and “meticulously prepared” for the hydrogen technology market consolidation that has “undoubtedly” started.
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